FxWirePro: USD/KRW Hovers Around Key Support at 1148, Bias Neutral

FxWirePro: USD/KRW Hovers Around Key Support at 1148, Bias Neutral

4 July 2016, 05:47
Roberto Jacobs
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FxWirePro: USD/KRW Hovers Around Key Support at 1148, Bias Neutral

  • USD/KRW is currently trading around 1148 levels. 
  • It made intraday high at 1149 and low at 1146 levels. 
  • Intraday bias remains neutral till the time pair holds key support at 1142 mark.     
  • A sustained close below 1142 will tests key supports 1134/1127 (October 2015 low) /1121/1115 levels respectively. 
  • Alternatively, a daily close above 1152 will drag the parity higher towards key resistances at 1161182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively. 
  • In addition, South Korea’s Kospi was trading 0.37% higher at 1,994.92 points.

We prefer to take short position in USD/KRW only below 1142, stop loss 1158 and target 1128/ 1115 respectively.

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